Earned Value Analysis

High Level Design

Overview

A project manager running multiple projects will want to know on a periodic basis how his or her projects are doing at that point in time so that he/she can make changes if the project is off-schedule or if it is costing more. Earned Value Analysis is a project management technique and a standard that can be used to measure a project’s progress at any given point in time, forecasting its final cost, analyzing variances in schedule and cost as time proceeds. It compares planned work with actual completed work. When a piece of work is completed, it is “earned”. The essential features of any EVM are:
  • A project plan that identifies work to be accomplished
  • A valuation of the planned work, called Planned Value or Budgeted Cost of Work Scheduled
  • Pre-defined “earning rules” (also called metrics) to quantify the accomplishment of work, called earned value (EV) or Budgeted cost of work performed (BCWP)

Goals

Improve project performance by tracking cost and schedule performance.

Objectives

  • Maintain or improve cost and schedule based on project plan.
  • Track cost estimate at completion to manage escalations.

KPI Architecture

Objectives KPIs Measures Data Source
Maintain or improve cost and schedule  based on project plan Earned Value (EV) Actual Completion (%) * Budget At Completion ProjectActuals, ProjectPlanDetails
Planned Value (PV) Planned Completion (%) * Budget at Completion ProjectPlanDetails
Actual Cost (AC) Sum of Cost ProjectActuals
Budget at Completion (BAC) Sum of Total Budget ProjectPlanDetails
CPI Earned Value / Actual Cost ProjectActuals, ProjectPlanDetails
SPI Earned Value / Planned Value ProjectActuals, ProjectPlanDetails
Cost Variance Earned Value – Total Actual Cost ProjectActuals, ProjectPlanDetails
Schedule Variance Earned Value – Planned Value ProjectActuals, ProjectPlanDetails
Track cost estimate at completion to manage escalations EAC – Estimate at Completion Based on Budgeted Cost

ETC – Estimate to Completion Based on Budgeted Cost

EAC = AC + (BAC – EV)

ETC = EAC – AC

ProjectActuals, ProjectPlanDetails
EAC – Estimate at Completion Based on Past Cost Performance

ETC – Estimate to Completion Based on Past Cost Performance

EAC = AC + [(BAC – EV) / CPI]

ETC = EAC – AC

ProjectActuals, ProjectPlanDetails
EAC – Estimate at Completion Based on past schedule performance

ETC – Estimate to Completion Based on Past Schedule Performance

EAC = AC + [(BAC – EV) / (CPI x SPI)]

ETC = EAC – AC

ProjectActuals, ProjectPlanDetails

Data Modeling (Elasticube Design)

Earned Value Analysis

The original tables from the data source contains 5 tables – ProjectDim, ProjectPlan, ProjectPlanDetails_Orig, ProjectActuals, ActualCost. In order to calculate the project statuses, some data manipulation was required. Two dimension tables, DimReportDate and DimMilestone and a fact table – ProjectPlanDetail was created from the underlying source tables.

Plugins & Scripts

Implementation
Kit

The following resources will enable you to design your dashboard and data model with sample data and then apply it to your own data. Note that you will need to have a previously installed version of Sisense (you can use the free trial version if you’re not a customer).

Sample data and dashboard examples (direct download)

Documentation